Hamilton National Bank v. City of Chattanooga

This is a controversy between the complainant bank and the defendant city as to whether a savings deposit on hand for more than six months is subject to an ad valorem tax. The chancellor held that it was and the complainant has appealed. The hank is acting as executor of one of its former customers and on January 10, 1930, and on January 10, 1931, as such executor, had on hand in bank as a savings deposit several thousand dollars upon each date.

On each'date the money in the savings account had been on hand for more than six months.

The bank maintains that this savings deposit is not subject to…